Transparency Market Research (TMR) observes, the
global
edge computing market is highly competitive due to presence
of number of companies operating in the market. Some of the key
players operating in the global edge computing market are Microsoft
Corporation, Cisco Systems Inc., IBM Corporation, Google Inc., and
Hewlett Packard Enterprise Company. These players are increasingly
taking initiatives for technological advancements. The launch of
advanced technology is expected to fuel growth of the market and help
players to gain higher revenue.
A report estimates, the global edge computing
market was evaluated at US$8,024.5 mn in 2017 and is expected to
attain value of US$13,313.7 mn by the end of 2022 with the CAGR of
10.7%. Based on component, hardware segment is anticipated to account
for the leading share of 54.3% of the market in 2017 and remain
dominant over the forecast period by progressing with a CAGR of 10%.
Based on geography, North America is projected to dominate the global
edge computing market in 2017, and is expected to remain dominant
over the forecast period.
High Adoption of Fast Transmission of Load
to Propel Growth
IoT data is increasing substantially due to
introduction of products such as smart devices, smart glasses, and
smart watches. Edge computing technique aids for processing,
collection, and collection of IoT-generated data. Moreover, rise in
number of internet users and growing adoption of digital services is
leading to increase in the collection of volume of sensitive data of
numerous organizations. These factors are boosting growth of the edge
computing market owing to increase in data is expected to propel
growth of the edge computing market.
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Additionally, edge computing is technology of
improving the cloud computing systems by processing data at edge of
network and near about the source of data. The edge computing reduces
the time for operation and complete process in milliseconds which
helps in the reduction of work load on the other networks. Thus, the
adoption of the edge computing is higher which is propelling growth
of the market. Furthermore, transmission of amount of loads which
leads to create the remarkable load on the network. This factor is
expected to boost adoption of edge computing over the forecast
period. Edge computing technique processes data from source and
analyze the data and sends the valuable information; thus, its
adoption is higher. These are some factors driving growth of the
global edge computing market.
Complex Configuration of Edge Computing to
Hamper Growth
Despite of these factors, the market is facing
some challenges including complex configuration is expected to
restraint growth of edge computing market. In addition, risks of
security holes and cyber security due to habit of not changing
passwords. Also, these devices highly susceptible to cyber terrorism
which is limiting growth of the edge computing market. Nonetheless,
advancements in technology and growing adoption of technologies such
as 3G, and 4G globally in the long-term evolution (LTE) wireless
networks are propelling demand for IoT technologies. Also, these are
expected to offer lucrative opportunities over the forecast period.
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